The Land Report

Summer 2015

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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Wow: A rizona's largest firm of its type. Insight: "The market in 2014 was quite a bit better than the prior year due to record cattle prices," says Broker Walter Lane. Hortenstine Ranch Company www.hrcranch.com (214) 361-9191 2014 Sales: $100 - $250 Million Who: A team of market-savvy brokers with backgrounds in wildlife management, cattle, wetlands development, surveying, hunting, fishing, and related areas. Wow: Sold Purley Gates Ranch, a highly improved 1,700-acre property with a 9-hole golf course, bass lake, and houses that languished on the market for years. Insight: "Texas population growth, diversification of investments, and built-up wealth should counteract the drop in oil and gas prices," says Blake Hortenstine. King Land & Water www.kinglandwater.com (432) 426-2024 2014 Sales: $100 - $250 Million Who: Three decades of experience repre- senting buyers and sellers of unique ranch- es with a focus on conservation lands. Wow: Sold the Rockpile Ranch, the 2014 Ranchland Deal of the Year. Also, Powderhorn Ranch, which sold to The Nature Conservancy, The Conservation Fund, and Texas Parks and Wildlife Foundation to create a new 17,000-acre state park on the Texas Gulf Coast. Insight: 2014 proved the "best year we've had with strong sales of ranches in West Texas and along the Gulf Coast," James King says. "But with the decline in oil prices, the energy sector, which has led the sellers' market, is losing steam. That will cause our six-year run on prices and volume to slow." Kuper Sotheby's International Realty www.kuperranchsales.com (210) 213-9700 2014 Sales: $100 - $250 Million Who: Director Robert Dullnig leads a team of Texas-based ranch realtors. Wow: Sold 20,150 acres of the historic East Forker-Gage Ranch, plus listed the 2 9,000-acre Y.O. Ranch for $75 million. Insight: "Landowners' recent royalties were invested in what they know best: land," says Dullnig. Lockhart Real Estate www.jlockhartrealestate.com (830) 234-3415 2014 Sales: < $50 Million Who: Hill Country sales and ranch management experts boasting more than a quarter-century of experience in ranch-related real estate, contracts, oil and gas, plus land titles. Wow: Sold South Texas's spectacular 4,661-acre Falling Waters Ranch. Insight: "Barring an economic setback, and with recent good rains in our region putting the Sunday clothes on our ranches for the first time in years, the positive trend of the last year or so should continue and maybe even improve," says Associate Allen Moody. Mossy Oak Properties of Texas www.moptex.com (972) 771-2129 2014 Sales: $100 - $250 Million Who: Experts in hunting, recreational, timber, and ranch properties. Wow: The jump in the number of multimillion-dollar properties, particularly cattle ranches and timberland. Insight: "Our recreational buyers were extremely active but with an increased interest in properties exhibiting some income potential via timber, cattle, hay, et cetera," says Broker Steve Baxter. No Fences Land Company www.nofencesland.com (866) 800-5263 2014 Sales: $50 - $100 Million Who: Experts in hunting, fishing, and recreational ranch sales. Insight: "Energy prices trending down- ward will disrupt a large segment of Texas and Oklahoma's economy, and activity in the oil patch will slow," says Owner Jason Pettigrew. "However, with the demand for fossil fuels on a global scale continuing to increase, prices cannot stay down forever. It is possible they could begin to correct much quicker than expected." S U M M E R 2 0 1 5 | The LandReport 79 LANDREPORT.COM

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